If you don't start it will never be finished.
Deadlines are good as long as you are ok if you fail to make the show...however perhaps this is the push that gets the car built this year and you have time mid season or at the end of the season to enjoy it!
I say go for it and the worse thing that can happen is that it takes a little longer...in the end it will be the same killer car you have in your head right now!